www.hudclips.org 


U. S. Department of Housing and Urban Development
Washington, D.C. 20410-8000

 
                              December 31, 1997
 
OFFICE OF THE ASSISTANT SECRETARY
FOR HOUSING-FEDERAL HOUSING COMMISSIONER
 
MORTGAGEE LETTER 97-50
 
TO: ALL APPROVED MORTGAGEES
 
SUBJECT: Single Family Loan Production - Mortgage Calculations in
Alaska and Hawaii
 
     Recent legislation extended for one year the revised
mortgage calculation process for the States of Alaska and Hawaii.
Detailed instructions regarding the revised methodology are
contained in Mortgagee Letter 96-63  (November 18, 1996).
Mortgagee Letters may be accessed through the Internet at
http://www.hud.gov/fha/mletters/mltrmenu.html.
 
     Unless renewed by Congress, this legislation ends September
30, 1998 and requires that mortgages using the revised
calculation procedures be endorsed by that date.  Questions
regarding these instructions should be addressed to the FHA
offices in Anchorage and Honolulu.
 
Sincerely,
 

 
Nicolas P. Retsinas
Assistant Secretary for
Housing-Federal Housing Commissioner